South Charlotte Home Sales Surge

South Charlotte Home Sale Surge – Observer Article with a Touch of Savvy Input!

What a treat–some POSITIVE news in the NEWS this week! Our popular South Charlotte newspaper shares the take of several local real estate agents on the current real estate market in South Charlotte. Currently there are 1,105 single family homes, condos, townhomes and lots for sale in the South Charlotte area (zip codes 28226, 28270, 28277, 28210 and 28211). There are 746 under Contract. Average days on the market for those under Contract are 101. There were 216 properties in the South Charlotte area that Closed/Sold. The average list price was $306,088 and the average sales price was $290,187, with an average list-to-sales price ratio of 95%. Certainly there are areas with closer to 100% list-to-sales-price ratio and others nearer to 90% but, your South Charlotte real estate agent can share with you, the data pertaining to YOUR particular area.

“I just showed a property to a client on Saturday and reminded them that Monday was the magic day if you are going to make an offer,” she said. “The client called on Monday and wanted to see the property again, and sure enough, the selling agent said they had two other offers. My client had to pay a little bit more but won the bid.”

“You really have to be a strategist as a Realtor these days because the inventory is so low and we’re seeing multiple offers everywhere,” Maxwell said. She sells primarily in Midwood-Plaza, Elizabeth, Dilworth, Myers Park, SouthPark and along the Providence Road and Carmel Road corridors.

She said MLS figures show that 16 homes have sold in Piper Glen in the past six months. In 2012, 37 homes sold in the upscale neighborhood at an average price of $651,486. That compares to 2011 when 26 homes sold at an average price of $541,610.

Maxwell said sales in older south Charlotte neighborhoods such as Beverly Woods, Beverly Crest, Madison Park and Olde Providence are also climbing. She said the average home price in Olde Providence has jumped to $390,000.

**I do have to clarify about the “Monday Magic” though! – Charlotte home buyers tend to view homes for sale during the weekend and then ‘sleep on it,’ waiting until Monday to submit Offers on the home of their dreams. Oftentimes, others are doing the same thing and with the limited supply of homes on the market, I recommend that you DO NOT WAIT! Put in your Offer early to avoid multiple-Offer situations and get a better price on the home. If you find yourself in a multiple-Offer situation, you will MOST likely pay more than the list price!

I am a full-time REALTOR® personally specializing in historic homes and luxury home sales in the Charlotte NC real estate market. My team specializes in a variety of areas including first time home buyers, condos and townhomes as well as single family home sales and marketing.
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